Business and Personal Finance Dictionary

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• INSIDERS
  
  A legal term used in bankruptcy to describe parties that have a special relationship to the bankrupt debtor. Creditors who are officers, directors, or stockholders are obvious examples of insiders. In some cases, the bank may be deemed to be an insider. The main consequence of being deemed an insider is that insiders are subject to a one-year preference period while other creditors are only subject to a 90-day preference period. See preference.
  
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